Wenzhou Hongfeng Electrical Alloy Co.,Ltd.’s Net Profit Dropped 86.1% in First Quarter of 2023

Wenzhou Hongfeng Electrical Alloy Co.,Ltd. (温州宏丰电工合金股份有限公司) (300283.SZ) reported a net profit of 985,370 yuan in the first quarter of 2023, down 86.1% year-on-year.

Meanwhile, the company posted 546.7 million yuan in revenue, up 14.9% year-on-year.

At the end of the reporting period, it had 2.6 billion yuan in total assets and 1.6 billion yuan in total liabilities, with a liability-to-asset ratio of 61.2%.